Sachem Capital Reports 23.2% Increase in Revenue for the First
Quarter of 2019

Conference Call and Webcast to be Held at 8:00 AM EDT on Tuesday, May
14, 2019

May 13, 2019 07:30 AM Eastern Daylight Time

BRANFORD, Conn.--(BUSINESS WIRE)--Sachem Capital Corp. (NYSE American: SACH) today announced its financial
results for the first quarter ended March 31, 2019. In addition, the
Company announced that it will host a conference call on Tuesday, May
14, 2019 at 8:00 a.m. Eastern Daylight Time.

Financial highlights (Q1 2019 vs. Q1 2018):

Revenue increased 23.2% to $3.3 million

Net income increased 4.2% to $2.1 million

Earnings per share of $0.13 (basic and diluted)

Balance sheet highlights (as of March 31, 2019):

Mortgages receivable increased to $80.9 million, compared to $78.0
million as of December 31, 2018

Total assets increased to $92.2 million, compared to $86.0 million as
of December 31, 2018

Shareholders’ equity increased to $57.1 million, compared to $52.8
million as of December 31, 2018

On April 1, 2019, the Company declared a dividend of $0.12 per common
share, which was paid on April 18, 2019 to shareholders of record on
April 11, 2019. The total amount of the dividend payment was
approximately $2.1 million.

John Villano, CPA, co-chief executive officer and chief financial
officer of Sachem Capital Corp., stated, “We are pleased with our
results for the first quarter of 2019. Despite an uncertain economic
environment and limited working capital to originate new loans, we
recorded increases in revenue, net income, the size of our loan
portfolio and shareholders’ equity. With the U.S. economy seeming to be
back on sound footing, significant additional working capital as a
result of sales of our common shares and continued strong demand for our
mortgage loan products, we believe our prospects for continued growth
for the balance of 2019 are good while maintaining our commitment to our
strict underwriting criteria, extensive due diligence and conservative
loan-to-value ratio. In addition, we continue to evaluate options that
may provide us greater financial flexibility.”

Results of operations – three months ended March 31, 2019

Total revenue for the three months ended March 31, 2019 was
approximately $3.35 million compared to approximately $2.72 million for
the three months ended March 31, 2018, an increase of approximately
$630,000, or 23.2%. Compared to the 2018 period, for the 2019 period
interest income increased approximately $789,000, or 40.2%, to $2.75
million from $1.96 million and net origination fees increased
approximately $16,000.

Total operating costs and expenses for three months ended March 31, 2019
were approximately $1.3 million compared to $744,000 for the three
months ended March 31, 2018, an increase of approximately $547,000,
reflecting an increase in lending operations and related increases in
administrative expenses. Compared to the 2018 period, in the 2019 period
interest expense and amortization of deferred financing costs expense
increased approximately $398,000, compensation expenses increased
approximately $139,000 and administrative expenses increased
approximately $67,000.

Net income for the three months ended March 31, 2019 was approximately
$2.1 million, or $0.13 per basic and diluted share, compared to $2.0
million, or $0.13 per basic and diluted share for the three months ended
March 31, 2018.

Investor Conference Call

The Companywill host a conference call on Tuesday, May 14, 2019
at 8:00 a.m., Eastern Daylight Time, to discuss the Company’s financial
results for the first quarter ending March 31, 2019 as well as the
Company’s corporate progress and other meaningful developments.

Interested parties can access the conference call by calling
877-407-8033 for U.S. callers, or +201-689-8033 for international
callers. The call will be available on the Company’s website via webcast
at https://www.sachemcapitalcorp.com.
John Villano, Co-Chief Executive Officer and Chief Financial Officer
will lead the conference call and other Sachem Capital executives will
also be available to answer questions.

A webcast will also be archived on the Company’s website and a telephone
replay of the call will be available approximately one hour following
the call, through 8:00 a.m. on Tuesday, May 28, 2019, and can be
accessed by calling: 877-481-4010 for U.S. callers or +919-882-2331 for
international callers and entering conference ID: 49099.

About Sachem Capital Corp.

Sachem Capital Corp. specializes in originating, underwriting, funding,
servicing and managing a portfolio of first mortgage loans. It offers
short term (i.e., three years or less) secured, non­banking loans
(sometimes referred to as “hard money” loans) to real estate investors
to fund their acquisition, renovation, development, rehabilitation or
improvement of properties located primarily in Connecticut. The Company
does not lend to owner occupants. The Company’s primary underwriting
criteria is a conservative loan to value ratio. The properties securing
the Company’s loans are generally classified as residential or
commercial real estate and, typically, are held for resale or
investment. Each loan is secured by a first mortgage lien on real
estate. Each loan is also personally guaranteed by the principal(s) of
the borrower, which guaranty may be collaterally secured by a pledge of
the guarantor’s interest in the borrower. The Company also makes
opportunistic real estate purchases apart from its lending activities.
The Company believes that it qualifies as a real estate investment trust
(REIT) for federal income tax purposes and has elected to be taxed as a
REIT beginning with its 2017 tax year.

Forward Looking Statements

This press release may contain forward-looking statements.All
statements other than statements of historical facts contained in this
press release, including statements regarding our future results of
operations and financial position, strategy and plans, and our
expectations for future operations, are forward-looking statements.The
words “anticipate,” “estimate,” “expect,” “project,” “plan,” “seek,”
“intend,” “believe,” “may,” “might,” “will,” “should,” “could,”
“likely,” “continue,” “design,” and the negative of such terms and other
words and terms of similar expressions are intended to identify forward-
looking statements.

We have based these forward-looking statements largely on our current
expectations and projections about future events and trends that we
believe may affect our financial condition, results of operations,
strategy, short-term and long-term business operations and objectives
and financial needs.These forward-looking statements are subject
to several risks, uncertainties and assumptions as described in our
Annual Report on Form 10-K for 2018 filed with the U.S. Securities and
Exchange Commission on March 29, 2019. Because of these risks,
uncertainties and assumptions, the forward-looking events and
circumstances discussed in this press release may not occur, and actual
results could differ materially and adversely from those anticipated or
implied in the forward-looking statements.

You should not rely upon forward-looking statements as predictions of
future events. Although we believe that the expectations reflected in
the forward-looking statements are reasonable, we cannot guarantee
future results, level of activity, performance or achievements. In
addition, neither we nor any other person assumes responsibility for the
accuracy and completeness of any of these forward-looking statements.We disclaim any duty to update any of these forward-looking
statements.

All forward-looking statements attributable to us are expressly
qualified in their entirety by these cautionary statements as well as
others made in this press release. You should evaluate all
forward-looking statements made by us in the context of these risks and
uncertainties.